Aankondiging • May 21
Orient Ceratech Limited to Report Q4, 2026 Results on May 27, 2026 Orient Ceratech Limited announced that they will report Q4, 2026 results on May 27, 2026 Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. MD & Director Manan Shah was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹40.13, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 20x in the Metals and Mining industry in India. Total returns to shareholders of 62% over the past three years. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: ₹0.37 (vs ₹0.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.37 (up from ₹0.14 in 3Q 2025). Revenue: ₹948.3m (up 28% from 3Q 2025). Net income: ₹44.1m (up 159% from 3Q 2025). Profit margin: 4.6% (up from 2.3% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jan 30
Orient Ceratech Limited to Report Q3, 2026 Results on Feb 04, 2026 Orient Ceratech Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 04, 2026 New Risk • Dec 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹6.24b market cap, or US$69.5m). Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹52.23, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total returns to shareholders of 83% over the past three years. Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹0.63 (vs ₹0.15 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.63 (up from ₹0.15 in 2Q 2025). Revenue: ₹1.15b (up 65% from 2Q 2025). Net income: ₹74.9m (up 305% from 2Q 2025). Profit margin: 6.5% (up from 2.6% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Nov 04
Orient Ceratech Limited to Report Q2, 2026 Results on Nov 10, 2025 Orient Ceratech Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Aankondiging • Sep 24
Orient Ceratech Limited Approves Dividend for the Year Ended 31 March, 2025 Orient Ceratech Limited in its Annual General Meeting held on September 23, 2025 approved to declare a dividend of 25% i.e. INR. 0.25/- (Twenty-Five paise) per Equity Share of the face value of INR. 1/- each, for the Financial Year ended 31 March, 2025. New Risk • Sep 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (3.5% net profit margin). Market cap is less than US$100m (₹4.43b market cap, or US$50.3m). Declared Dividend • Sep 03
Dividend of ₹0.25 announced Dividend of ₹0.25 is the same as last year. Ex-date: 16th September 2025 Payment date: 23rd October 2025 Dividend yield will be 0.6%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 67% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.9% EPS decline seen over the last 5 years. Aankondiging • Aug 29
Orient Ceratech Limited, Annual General Meeting, Sep 23, 2025 Orient Ceratech Limited, Annual General Meeting, Sep 23, 2025, at 11:30 Indian Standard Time. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹0.36 (vs ₹0.24 in 1Q 2025) First quarter 2026 results: EPS: ₹0.36 (up from ₹0.24 in 1Q 2025). Revenue: ₹997.0m (up 1.6% from 1Q 2025). Net income: ₹43.0m (up 48% from 1Q 2025). Profit margin: 4.3% (up from 3.0% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 30
Orient Ceratech Limited to Report Q1, 2026 Results on Aug 07, 2025 Orient Ceratech Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹41.48, the stock trades at a trailing P/E ratio of 50.1x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total returns to shareholders of 54% over the past three years. Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹0.83 (vs ₹1.59 in FY 2024) Full year 2025 results: EPS: ₹0.83 (down from ₹1.59 in FY 2024). Revenue: ₹3.31b (up 5.6% from FY 2024). Net income: ₹99.3m (down 48% from FY 2024). Profit margin: 3.0% (down from 6.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Aankondiging • May 21
Orient Ceratech Limited to Report Q4, 2025 Results on May 28, 2025 Orient Ceratech Limited announced that they will report Q4, 2025 results on May 28, 2025 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹31.63, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 19x in the Metals and Mining industry in India. Total returns to shareholders of 20% over the past three years. New Risk • Feb 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 0.2% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (₹4.37b market cap, or US$50.3m). Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹0.14 (vs ₹0.44 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.14 (down from ₹0.44 in 3Q 2024). Revenue: ₹754.9m (flat on 3Q 2024). Net income: ₹17.0m (down 68% from 3Q 2024). Profit margin: 2.3% (down from 7.0% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 31
Orient Ceratech Limited to Report Q3, 2025 Results on Feb 06, 2025 Orient Ceratech Limited announced that they will report Q3, 2025 results on Feb 06, 2025 New Risk • Dec 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.7% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (₹6.44b market cap, or US$75.9m). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹53.86, the stock trades at a trailing P/E ratio of 45x. Average trailing P/E is 27x in the Metals and Mining industry in India. Total returns to shareholders of 109% over the past three years. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹0.15 (vs ₹0.44 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.15 (down from ₹0.44 in 2Q 2024). Revenue: ₹711.6m (down 14% from 2Q 2024). Net income: ₹18.5m (down 65% from 2Q 2024). Profit margin: 2.6% (down from 6.3% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 07
Orient Ceratech Limited to Report Q2, 2025 Results on Nov 12, 2024 Orient Ceratech Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Declared Dividend • Sep 08
Dividend of ₹0.25 announced Dividend of ₹0.25 is the same as last year. Ex-date: 23rd September 2024 Payment date: 30th October 2024 Dividend yield will be 0.5%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Aankondiging • Sep 06
Orient Ceratech Limited, Annual General Meeting, Sep 30, 2024 Orient Ceratech Limited, Annual General Meeting, Sep 30, 2024, at 11:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.24 (vs ₹0.35 in 1Q 2024) First quarter 2025 results: EPS: ₹0.24 (down from ₹0.35 in 1Q 2024). Revenue: ₹988.1m (up 36% from 1Q 2024). Net income: ₹29.1m (down 31% from 1Q 2024). Profit margin: 2.9% (down from 5.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 06
Orient Ceratech Limited to Report Q1, 2025 Results on Aug 14, 2024 Orient Ceratech Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹49.64, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 92% over the past three years. Reported Earnings • May 18
Full year 2024 earnings released: EPS: ₹1.59 (vs ₹1.19 in FY 2023) Full year 2024 results: EPS: ₹1.59 (up from ₹1.19 in FY 2023). Revenue: ₹3.16b (up 4.7% from FY 2023). Net income: ₹190.2m (up 34% from FY 2023). Profit margin: 6.0% (up from 4.7% in FY 2023). Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 27% per year. Aankondiging • May 11
Orient Ceratech Limited to Report Q4, 2024 Results on May 16, 2024 Orient Ceratech Limited announced that they will report Q4, 2024 results on May 16, 2024 Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹58.45, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 148% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹62.65, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 181% over the past three years. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹0.44 (vs ₹0.21 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.44 (up from ₹0.21 in 3Q 2023). Revenue: ₹757.1m (up 38% from 3Q 2023). Net income: ₹52.5m (up 110% from 3Q 2023). Profit margin: 6.9% (up from 4.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 06
Orient Ceratech Limited to Report Q3, 2024 Results on Feb 13, 2024 Orient Ceratech Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Buy Or Sell Opportunity • Jan 24
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to ₹53.40. The fair value is estimated to be ₹43.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 7.8%. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹54.85, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 20x in the Metals and Mining industry in India. Total returns to shareholders of 199% over the past three years. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹0.44 (vs ₹0.17 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.44 (up from ₹0.17 in 2Q 2023). Revenue: ₹828.9m (up 22% from 2Q 2023). Net income: ₹52.5m (up 162% from 2Q 2023). Profit margin: 6.3% (up from 3.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 28
Orient Ceratech Limited to Report Q2, 2024 Results on Nov 03, 2023 Orient Ceratech Limited announced that they will report Q2, 2024 results on Nov 03, 2023 Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹44.60, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 20x in the Metals and Mining industry in India. Total returns to shareholders of 134% over the past three years. Recent Insider Transactions • Oct 01
Non-Executive Independent Director recently bought ₹389k worth of stock On the 27th of September, Ketan Shrimankar bought around 10k shares on-market at roughly ₹38.90 per share. This transaction increased Ketan's direct individual holding by 250x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹563k more in shares than they have sold in the last 12 months. Upcoming Dividend • Sep 11
Upcoming dividend of ₹0.25 per share at 0.7% yield Eligible shareholders must have bought the stock before 18 September 2023. Payment date: 25 September 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (6.9%). Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: ₹0.35 (vs ₹0.32 in 1Q 2023) First quarter 2024 results: EPS: ₹0.35 (up from ₹0.32 in 1Q 2023). Revenue: ₹738.5m (down 20% from 1Q 2023). Net income: ₹42.3m (up 10% from 1Q 2023). Profit margin: 5.7% (up from 4.2% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Aankondiging • Jul 28
Orient Abrasives Limited, Annual General Meeting, Aug 17, 2023 Orient Abrasives Limited, Annual General Meeting, Aug 17, 2023, at 12:00 Indian Standard Time. Aankondiging • Jul 26
Orient Abrasives Limited to Report Q1, 2022 Results on Aug 03, 2023 Orient Abrasives Limited announced that they will report Q1, 2022 results on Aug 03, 2023 New Risk • Jul 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (₹4.38b market cap, or US$53.4m). Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹36.80, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 102% over the past three years. Reported Earnings • May 23
Full year 2023 earnings released: EPS: ₹1.19 (vs ₹0.57 in FY 2022) Full year 2023 results: EPS: ₹1.19 (up from ₹0.57 in FY 2022). Revenue: ₹3.10b (up 16% from FY 2022). Net income: ₹142.1m (up 107% from FY 2022). Profit margin: 4.6% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Aankondiging • May 17
Orient Abrasives Limited to Report Q4, 2023 Results on May 22, 2023 Orient Abrasives Limited announced that they will report Q4, 2023 results on May 22, 2023 Board Change • Apr 19
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Additional Non-Executive Independent Director Ketan Shrimankar was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹0.21 (vs ₹0.09 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.21 (up from ₹0.09 in 3Q 2022). Revenue: ₹550.5m (up 17% from 3Q 2022). Net income: ₹25.0m (up 140% from 3Q 2022). Profit margin: 4.5% (up from 2.2% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Aankondiging • Jan 27
Orient Abrasives Limited to Report Q3, 2023 Results on Feb 03, 2023 Orient Abrasives Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Upcoming Dividend • Sep 09
Upcoming dividend of ₹0.15 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 26 October 2022. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (6.0%). Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: ₹0.32 (vs ₹0.19 in 1Q 2022) First quarter 2023 results: EPS: ₹0.32 (up from ₹0.19 in 1Q 2022). Revenue: ₹928.1m (up 26% from 1Q 2022). Net income: ₹38.3m (up 72% from 1Q 2022). Profit margin: 4.1% (up from 3.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • May 28
Full year 2022 earnings released: EPS: ₹0.57 (vs ₹0.95 in FY 2021) Full year 2022 results: EPS: ₹0.57 (down from ₹0.95 in FY 2021). Revenue: ₹2.67b (down 12% from FY 2021). Net income: ₹68.6m (down 40% from FY 2021). Profit margin: 2.6% (down from 3.8% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.36 (vs ₹0.36 in 3Q 2021). Revenue: ₹485.6m (down 45% from 3Q 2021). Net income: ₹10.4m (down 76% from 3Q 2021). Profit margin: 2.1% (down from 4.9% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS ₹0.12 (vs ₹0.19 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹724.8m (up 7.5% from 2Q 2021). Net income: ₹14.2m (down 39% from 2Q 2021). Profit margin: 2.0% (down from 3.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 38% share price gain to ₹36.30, the stock trades at a trailing P/E ratio of 38.1x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 14% over the past three years. Reported Earnings • May 13
Full year 2021 earnings released: EPS ₹0.95 (vs ₹1.72 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹3.04b (down 12% from FY 2020). Net income: ₹113.7m (down 45% from FY 2020). Profit margin: 3.7% (down from 5.9% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 17% share price gain to ₹28.65, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 18x in the Metals and Mining industry in India. Total loss to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improved over the past week After last week's 20% share price gain to ₹24.95, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total loss to shareholders of 37% over the past three years. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS ₹0.36 (vs ₹0.38 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₹891.4m (up 2.9% from 3Q 2020). Net income: ₹43.1m (down 6.3% from 3Q 2020). Profit margin: 4.8% (down from 5.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improved over the past week After last week's 18% share price gain to ₹28.00, the stock is trading at a trailing P/E ratio of 22.2x, up from the previous P/E ratio of 18.8x. This compares to an average P/E of 17x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 45%.